Zhengxi Bio Completes Tens of Millions RMB Series A Funding to Advance Localization of Flow Cytometry Reagents

VCBeat has learned that Zhejiang Zhengxi Bio-Technology Co., Ltd. (hereinafter referred to as “Zhengxi Bio”) recently announced the completion of a new round of financing amounting to tens of millions of yuan. The investment was made by a cooperative fund between Zhejiang Fuju Investment Management Co., Ltd. (hereinafter referred to as “Fuju Investment”) and Huzhou Xiexing Investment Development Co., Ltd.

Zhengxi Bio is a deep-tech company specializing in membrane protein antibodies, with continuous strategic layouts in clinical products, upstream reagent raw materials, and third-party specialized terminal testing, centered around flow fluorescence detection, immunohistochemistry (IHC) detection, and multi-omics detection. The company has achieved domestic substitution in the fields of flow cytometry and multi-omics antibody raw materials and reagents by independently developing over 200 types of multi-omics membrane protein antibody raw materials, thereby resolving critical technological bottlenecks. The domestic biological reagent market has long suffered from import monopolies, highlighting the importance of supply chain localization. With product performance comparable to imported brands, Zhengxi Bio is poised to accelerate the process of domestic substitution in this sector and reshape the competitive landscape. The company’s core product, flow fluorescence antibodies for membrane surfaces, has overcome key technological bottlenecks in the upstream segment of the IVD industry chain, addressing clear market demands and opportunities for domestic substitution. With the rise and prominence of immunotherapy, the flow fluorescence detection platform, as a crucial analytical tool in immunotherapy, participates in the entire process from R&D, preparation, and characterization to efficacy prediction and post-treatment monitoring.

Focusing on the research applications and clinical implementation of flow cytometry, the company has assembled a core team with extensive experience in R&D and commercialization. Dr. Yang Zhang, a post-90s founder, studied under Professor Jason Cyster, a renowned immunologist, member of the U.S. National Academy of Sciences, and investigator at the Howard Hughes Medical Institute. Dr. Zhang is the first immunology Ph.D. graduate from the University of California, San Francisco (UCSF), one of the world’s top medical schools, to return to mainland China. He also holds dual master’s degrees in Business Administration (MBA) and Public Health (MPH) from Yale University. Since returning to China in 2019, Dr. Zhang has received numerous honors, including Zhejiang Provincial Overseas High-Level Talent for Entrepreneurship, the Zhejiang Qianjiang Talent Program, the Huzhou Nan Taihu Elite Plan for Leading Entrepreneurs, and the title of One of the Top Ten Outstanding Youths of Huzhou City. Through years of systematic efforts, the founding team led by Dr. Zhang has established an integrated technology platform for the high-throughput development, production, and application of flow cytometry antibodies. The company’s core team members hail from well-known biopharmaceutical companies both domestically and internationally, bringing decades of experience in the in vitro diagnostics (IVD) sector. The team’s rich experience and diverse composition serve as a crucial foundation for the project’s rapid development.

Dr. Zhang Yang, the founder, stated that after nearly seven years of dedicated development, Zhengxi Bio has established a foundational technology platform encompassing membrane protein antibody R&D, production process optimization, antibody modification, and fluorescent labeling. The company has systematically filed over 40 core patents for these underlying technologies, including 30 invention patents (with 8 granted), and plans to secure at least 50 invention patents related to flow cytometry antibody preparation by the end of 2024, thereby establishing an independent, domestically produced foundational technology platform aligned with hard-tech standards. Dr. Zhang expressed sincere gratitude to the investors in this round for their trust and support in Zhengxi Bio. The funds raised will be primarily allocated to channel development, new product registration, capacity expansion, and daily operations. Looking ahead, Zhengxi Bio will leverage its core capabilities in flow cytometry antibodies and labeling technologies to gradually expand into upstream raw materials for emerging multi-omics applications and clinical implementation, striving to create greater value in the flow cytometry sector.

Ms. Zhou Lihong, Founding Partner of Fuju Investment, stated: "Flow cytometry technology boasts extremely broad applications and represents a high-end niche segment with strong prospects within the IVD sector. Leveraging its proprietary protein expression and labeling technologies, Zhengxi Bio holds significant advantages in advancing domestic substitution. Fuju Investment remains focused on medium- to long-term value investments in technology-driven enterprises, prioritizing sustainable corporate growth. We are optimistic about Zhengxi Bio’s long-term development and hope the company will continue to deepen its R&D efforts to resolve more critical technological bottlenecks. As we accompany Zhengxi in value creation, we will uphold the philosophy of pooling wisdom and mutual assistance to empower the company’s high-quality development."

Zhejiang Fuju Investment Management Co., Ltd. was established in Hangzhou in December 2012. Its name is derived from Fuju Investment’s growth path: “Rooted in Fudan, Priceless Friendship, Aggregating Wisdom, Win-Win Cooperation”; and reflects its development logic: “Cyclical Renewal, Gathering Talent and Righteousness, Priceless Friendship, Co-creation and Sharing.” Upholding the values of “Integrity, Professionalism, Pragmatism, and Win-Win Cooperation,” the company is committed to becoming a professional investment firm with a strong sense of mission, humanistic care, and high standards.

Fuju Investment is composed of industry-leading entrepreneurs, renowned business school professors, financial investment experts, and distinguished Zhejiang merchants from both traditional and technology sectors.

Fuju Investment focuses on value discovery, value enhancement, and value creation for leading enterprises in niche sectors. It adheres to an investment philosophy of “Safety First, Premium Strategy” and firmly upholds the principles of “Values–Creation–Value” and “Research-Driven Investment (RDP).”

Huzhou Xiexing Investment Development Co., Ltd. was established on November 26, 2018. As a newly established wholly-owned first-tier subsidiary of Huzhou City Group, it undertakes financial investment functions for Huzhou City Group, including participation in mixed-ownership reform and outward mergers and acquisitions.

Huzhou Urban Investment and Development Group Co., Ltd. (Huzhou Urban Group) was established in May 2016 as a wholly state-owned limited liability company under the municipal government. The Group currently comprises 13 first-tier subsidiaries, specializing in the investment, construction, operation, and management of urban infrastructure, commercial real estate development, livelihood security, and financial investment. Adhering to its core corporate values of “loyalty, integrity, and responsibility,” and upholding the corporate spirit of “building brands, leading the tide, and forging an iron-clad team,” Huzhou Urban Group strives to serve as the main force in urban construction, the vanguard among municipal state-owned enterprises, and the pioneer in reform and development. To date, the Group’s total assets have exceeded RMB 140 billion, and it has been among the first in the city to achieve dual AAA credit ratings.